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Custodian Bond

By admin on November 29, 2012 in Customs Brokerage, Importing to U.S.

This bond covers the activities of bonded merchandise warehouses, carriers, cartmen and container stations. All of these business types are responsible, in the course of their work, for merchandise which has not yet been officially “entered” into the commerce of the United States, and for which duties are still due. Such goods are referred to as being “in-bond”.

Bond Amount Calculation:

The proper bond amount is determined by the District Director of Customs, depending on average loads and types of commodities to be in care of the bondholder. The minimum Activity Code 2 bond amount accepted by Customs is $50,000.

As with all Customs bonds, should your bond amount be inadequate according to Customs regulations, Customs will advise the importer and the surety company to increase the bond amount, and they will give a reasonable amount of time to do so.